A golf course typically experiences a fluctuation in the number of golfers using the course, depending on the time of day, day of the week, and time of the year. Thus golf courses often have time periods during which the golf course is underutilized and generates less revenue relative to busier time periods.
In addition, the game of golf is a relatively expensive hobby, requiring expensive golf clubs and a large time commitment to become competent at playing the game. Such high monetary and time commitment costs limit the number of people willing to play golf. For example, unlike movie theatres that generate income from people of all ages and income brackets, many golf courses predominantly generate revenue from adults with middle class incomes or higher. Thus the reduced potential pool of available people willing to play golf reduces the potential income of golf courses.
Thus, golf courses may benefit from improvements.